Profitloss Centerstage Events

North Korea's decision to switch to a new time zone took center stage on Friday, 7 August 2015 among all major events across the globe, and remains the highlight of this week's list of center stage events.
Picture Courtesy: Profit loss

Centerstage events of week 1

Nokia confirms the sale of its HERE mapping and location...

Nokia confirms the sale of its HERE mapping and location service to a consortium of German carmakers, including BMW, Daimler AG, and Audi, for €2.8 billion. The deal is driven by the consortium's desire to compete with Google in the development of self-driving cars, positioning HERE as a crucial player in the future of the automotive industry. Other potential buyers, such as Uber, were also rumored to be interested in acquiring HERE.

Monday, 3 August, 2015

The U.K. government incurs a loss of £2.1 billion after...

The U.K. government incurs a loss of £2.1 billion after selling shares in Royal Bank of Scotland (RBS) at a price significantly lower than its bailout cost during the 2008 financial crisis. The sale reduces the government's stake in RBS, but Treasury Economic Secretary John Glen emphasizes that the bank is now in a much healthier position compared to a decade ago.

Tuesday, 4 August, 2015

Mortgage-finance company Fannie Mae reports a 27% rise in second-quarter...

Mortgage-finance company Fannie Mae reports a 27% rise in second-quarter profits, reaching $4.64 billion, driven in part by the increase in long-term interest rates. However, Fannie Mae reveals that its efforts to expand mortgage access to borrowers with lower credit scores and smaller down payments have had a slow start. The company's performance reflects the impact of hedging risks and derivatives in its portfolio.

Wednesday, 5 August, 2015

North Korea announces its decision to switch to a new...

North Korea announces its decision to switch to a new time zone called "Pyongyang Time" to mark its liberation from Japanese occupation at the end of World War II. The move involves putting the clocks back by 30 minutes, reclaiming the country's standard time. South Korea expresses concerns about the short-term inconvenience and potential long-term impact on efforts to unify standards between the two Koreas.

Thursday, 6 August, 2015

Taiwanese electronics manufacturer Foxconn plans to invest $5 billion in...

Taiwanese electronics manufacturer Foxconn plans to invest $5 billion in factories, research, and development in the Indian state of Maharashtra. This investment, spread over several years, aims to create 50,000 job opportunities. Foxconn, known as the world's largest contract electronics manufacturer, seeks to expand its operations in India, tapping into the country's growing consumer market and favorable manufacturing conditions.

Friday, 7 August, 2015

A memorial service takes place in Nagasaki, Japan, commemorating the...

A memorial service takes place in Nagasaki, Japan, commemorating the 70th anniversary of the atomic bombing during World War II. Speeches at the ceremony criticize Prime Minister Shinzo Abe's plans to loosen restrictions on Japan's military actions. The bombing claimed the lives of at least 70,000 people. The ceremony serves as a solemn reminder of the devastating consequences of the atomic bomb and highlights ongoing debates about Japan's military role.

Saturday, 8 August, 2015

Google announces the creation of a new holding company called...

Google announces the creation of a new holding company called Alphabet Inc., which will encompass Google Inc. and its various subsidiaries such as Google Ventures and Google X. This restructuring allows for better organization and focus on different business areas, providing more transparency and autonomy to individual divisions within the company.

Sunday, 9 August, 2015